Marriott Vacations Worldwide Corp.

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VAC : NYSE : Finance
$142.64 -1.91 | -1.32%
Today's Range: 142.27 - 145.79
Avg. Daily Volume: 177000.0
02/16/18 - 4:02 PM ET

Financial Analysis


MARRIOTT VACATIONS WORLDWIDE's gross profit margin for the third quarter of its fiscal year 2017 has increased when compared to the same period a year ago. The company managed to grow both sales and net income at a faster pace than the average competitor in its industry this quarter as compared to the same quarter a year ago.

At the same time, stockholders' equity ("net worth") has remained virtually unchanged only increasing by 4.61% from the same quarter last year.

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Income Statement Q3 FY17 Q3 FY16
Net Sales ($mil)486.99401.64
EBITDA ($mil)72.8352.77
EBIT ($mil)67.2248.09
Net Income ($mil)40.7626.81


Balance Sheet Q3 FY17 Q3 FY16
Cash & Equiv. ($mil)501.78292.6
Total Assets ($mil)2823.042386.17
Total Debt ($mil)1153.22804.72
Equity ($mil)949.22907.38


Profitability Q3 FY17 Q3 FY16
Gross Profit Margin41.0738.33
EBITDA Margin14.9513.13
Operating Margin13.811.97
Sales Turnover0.720.75
Return on Assets5.975.05
Return on Equity17.7513.29
Debt Q3 FY17 Q3 FY16
Current Ratio0.00.0
Debt/Capital0.550.47
Interest Expense9.147.62
Interest Coverage7.356.31


Share Data Q3 FY17 Q3 FY16
Shares outstanding (mil)26.4926.99
Div / share0.350.3
EPS1.470.97
Book value / share35.8333.62
Institutional Own % n/a n/a
Avg Daily Volume180717.0261597.0

Valuation


BUY. MARRIOTT VACATIONS WORLDWIDE's P/E ratio indicates a discount compared to an average of 27.27 for the Hotels, Restaurants & Leisure industry and a value on par with the S&P 500 average of 25.51. Conducting a second comparison, its price-to-book ratio of 4.03 indicates a premium versus the S&P 500 average of 3.26 and a significant discount versus the industry average of 17.07. The price-to-sales ratio is below the S&P 500 average and is well below the industry average, indicating a discount. Upon assessment of these and other key valuation criteria, MARRIOTT VACATIONS WORLDWIDE proves to trade at a discount to investment alternatives within the industry.


Price/Earnings
1 2 3 4 5
premium   discount
  Price/Cash Flow
1 2 3 4 5
premium   discount
VAC 23.85 Peers 27.27   VAC 32.14 Peers 15.85

Discount. A lower P/E ratio than its peers can signify a less expensive stock or lower growth expectations.

VAC is trading at a discount to its peers.

 

Premium. The P/CF ratio, a stock’s price divided by the company's cash flow from operations, is useful for comparing companies with different capital requirements or financing structures.

VAC is trading at a significant premium to its peers.

 
Price/Projected
Earnings
1 2 3 4 5
premium   discount
  Price to
Earnings/Growth
1 2 3 4 5
premium   discount
VAC 22.30 Peers 24.18   VAC 2.13 Peers 0.85

Premium. A higher price-to-projected earnings ratio than its peers can signify a more expensive stock or higher future growth expectations.

VAC is trading at a premium to its peers.

 

Premium. The PEG ratio is the stock’s P/E divided by the consensus estimate of long-term earnings growth. Faster growth can justify higher price multiples.

VAC trades at a significant premium to its peers.

 
Price/Book
1 2 3 4 5
premium   discount
  Earnings Growth
1 2 3 4 5
lower   higher
VAC 4.03 Peers 17.07   VAC 47.08 Peers 258.59

Discount. A lower price-to-book ratio makes a stock more attractive to investors seeking stocks with lower market values per dollar of equity on the balance sheet.

VAC is trading at a significant discount to its peers.

 

Lower. Elevated earnings growth rates can lead to capital appreciation and justify higher price-to-earnings ratios.

However, VAC is expected to significantly trail its peers on the basis of its earnings growth rate.

 
Price/Sales
1 2 3 4 5
premium   discount
  Sales Growth
1 2 3 4 5
premium   discount
VAC 1.88 Peers 3.55   VAC 14.34 Peers 10.44

Discount. In the absence of P/E and P/B multiples, the price-to-sales ratio can display the value investors are placing on each dollar of sales.

VAC is trading at a significant discount to its industry on this measurement.

 

Higher. A sales growth rate that exceeds the industry implies that a company is gaining market share.

VAC has a sales growth rate that significantly exceeds its peers.

 

 

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